XML 54 R43.htm IDEA: XBRL DOCUMENT
v3.19.1

Financial Instruments (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Notional Amounts of Derivatives |
Notional Amounts (In millions) | March 31, 2019 | December 31, 2018
Derivatives designated as hedging instruments: |  |
Commodity contracts | $ | 351 |  | $ | 525 |
Derivatives not designated as hedging instruments: |  |  |  |
Foreign currency contracts | $ | 1,442 |  | $ | 2,057 |
Commodity contracts | $ | 125 |  | $ | 9 |
After-Tax Effect of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) |
| Three Months Ended March 31,
(In millions) | 2019 | 2018
Beginning balance | $ | (26 | ) | $ | (2 | )
Additions and revaluations of derivatives designated as cash flow hedges | 4 |  | 12 |
Clearance of hedge results to earnings | (3 | ) | (1 | )
Ending balance | $ | (25 | ) | $ | 9 |
Fair Value of Derivatives Instruments |
|  | March 31, 2019
(In millions) | Balance Sheet Location | Gross | Counterparty and Cash Collateral Netting 1 | Net Amounts Included in the Interim Condensed Consolidated Balance Sheet
Asset derivatives: |  |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |
Foreign currency contracts | Other current assets | $ | 58 |  | $ | (16 | ) | $ | 42 |
Total asset derivatives |  | $ | 58 |  | $ | (16 | ) | $ | 42 |
Liability derivatives: |  |  |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Foreign currency contracts | Accrued and other current liabilities | $ | 17 |  | $ | (14 | ) | $ | 3 |
Total liability derivatives |  | $ | 17 |  | $ | (14 | ) | $ | 3 |
|  | December 31, 2018
(In millions) | Balance Sheet Location | Gross | Counterparty and Cash Collateral Netting 1 | Net Amounts Included in the Interim Condensed Consolidated Balance Sheet
Asset derivatives: |  |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |
Foreign currency contracts | Other current assets | $ | 72 |  | $ | (35 | ) | $ | 37 |
Total asset derivatives |  | $ | 72 |  | $ | (35 | ) | $ | 37 |
Liability derivatives: |  |  |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Foreign currency contracts | Accrued and other current liabilities | $ | 21 |  | $ | (15 | ) | $ | 6 |
Total liability derivatives |  | $ | 21 |  | $ | (15 | ) | $ | 6 |
1. | Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty.
Effect of Derivative Instruments |
| Amount of Gain Recognized in OCI 1 - Pre-Tax
| Three Months Ended March 31,
(In millions) | 2019 | 2018
Derivatives designated as hedging instruments: |  |
Cash flow hedges: |  |
Commodity contracts | $ | 8 |  | $ | 16 |
Total derivatives designated as hedging instruments | 8 |  | 16 |
Total derivatives | $ | 8 |  | $ | 16 |
1. | OCI is defined as other comprehensive (loss) income.
| Amount of Gain (Loss) Recognized in Income - Pre-Tax 1
(In millions) | Three Months Ended March 31,
| 2019 | 2018
Derivatives designated as hedging instruments: |  |
Cash flow hedges: |  |
Commodity contracts 2 | $ | 4 |  | $ | 1 |
Total derivatives designated as hedging instruments | 4 |  | 1 |
Derivatives not designated as hedging instruments: |  |
Foreign currency contracts 3 | (9 | ) | (181 | )
Commodity contracts 2 | 7 |  | (3 | )
Total derivatives not designated as hedging instruments | (2 | ) | (184 | )
Total derivatives | $ | 2 |  | $ | (183 | )
1. | For cash flow hedges, this represents the portion of the gain (loss) reclassified from accumulated OCI into income during the period.
2. | Recorded in cost of goods sold.
3. | Gain recognized in sundry income - net was partially offset by the related gain on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 7 for additional information.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration